Proposal will Raise Significant Revenue, Help Narrow Wealth Gap Today, U.S. Senator Chris Van Hollen (D-Md.) and Congressman Don Beyer (D-Va.) introduced a new tax proposal to help close the gap between the wealthy and everyone else, and raise significant revenue to make new investments that will grow the economy and protect working families. Their […]
Nevertheless, Trump Considering New Tax Cuts for Wealthy Even Though Polling Compilation Shows TCJA Still Underwater with Public The 2017 Tax Cuts and Jobs Act (TCJA), the top legislative achievement of the Trump Administration and the GOP Congress, has failed to live up to the many promises by its proponents, according to a year-long compilation […]
July 23, 2019
ICYMI: Kansas Rebounds After Repeal of Huge Tax Cuts
‘Trickle Down’ Plan Failed to Spur Growth, Offers Lessons for Federal Tax Policy Last week, CNBC named Kansas number 19 on its list of America’s Top States for Business, a surprising 16-place jump from its 2018 ranking, making Kansas this year’s most improved state. Good news for Kansas, certainly, but the way the Sunflower State […]
Recent CRS Report Finds ‘Discouraging Findings’ About Tax Law’s Impact Seven organizations, including Americans for Tax Fairness, AFL-CIO, Communications Workers of America and Economic Policy Institute, have written to the chairmen and ranking members of the House and Senate tax writing committees urging them to investigate the 2017 Tax Cuts and Jobs Act in light […]
Tax Day Report and Online Calculator Show How Corporations & Wealthy Could Pay Fair Share Americans for Tax Fairness today released a 65-page report detailing about 40 progressive tax reform and revenue options that would make the tax system much fairer and could raise trillions of dollars for critical needs like protecting and strengthening Medicare […]
Fair Taxes Now: Revenue Options for a Fair Tax System report: Interactive calculator comparing tax increases on the rich and corporations with investment options for working families: https://americansfortaxfairness.org/calc Three revenue charts from our Fair Taxes Now Report can be found here: Options to Amend or Repeal Trump-GOP Tax Cuts for the Rich & Corporations: […]
February 5, 2019
SIX WORST FEATURES OF THE TRUMP-GOP TAX CUTS AND TALKING POINTS
Factsheet The Trump-GOP tax plan, formally known as the Tax Cuts and Jobs Act (TCJA), was signed into law on Dec. 22, 2017. The biggest broken promises and other worst features of the law are: #1: Trump and the GOP said “the benefits of tax reform (would) go to the middle class, not to […]
Congresswoman’s Proposal Is Supported by History, Current Economic Research & Is One Way to Raise Substantial Income Needed for Vital Public Services WASHINGTON, D.C.—The recent suggestion by Rep. Alexandria Ocasio-Cortez (D-NY) that the marginal tax rate on incomes over $10 million could be raised to as high as 70% is consistent with recent American history […]
Rx Industry’s Share Repurchases Hit $73 Billion Since Tax Law Passed While Drug Prices Continue to Surge The recently announced $74 billion merger between drug industry giants Bristol-Myers Squibb (BMS) and Celgene highlights how pharmaceutical companies are using their massive Trump-GOP tax cuts: to further enrich their shareholders and CEOs, rather than generally boost industry […]
Maker of Popular Arthritis Drug Humira That Costs Patients $38K Per Year Pays a 9% Corporate Tax Rate, Reports No U.S. Profits After raising the price of its best-selling drug 100% over the past six years and paying a corporate tax rate of just 9%—courtesy of the Trump-GOP tax cuts—pharmaceutical giant AbbVie yesterday announced the authorization […]